LIC policyholders need to update PAN details by February 28 to participate in IPO
The Hindu
The PAN updation can be done on LIC's website either directly or with the help of agents
Life Insurance Corporation of India (LIC) has asked all its policyholders to update their Permanent Account Number (PAN) details in their policy record by February 28 to be eligible for participating in its upcoming public issue, according to the draft red herring prospectus (DRHP).
On February 13, the state-run insurer filed draft papers with capital market regulator Sebi for an estimated ₹63,000 crore.
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Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.